Singhvi on why there’s a case for class action suit against Tata

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Cyrus Mistry, who was removed for Chairmanship of Tata Sons on Monday, wrote a scathing letter to Board members highlighting numerous issues plaguing the group companies. The problems highlighted by Mistry were already been talked about in hush tones and he just put them out in open, believes Anil Singhvi of Ican Investment Advisors. The main concern is for the minority shareholders who have not been given any concrete reasons for Mistry’s removal, he said. The company should have been more responsible in the way things were handled. Singhvi added that this makes a strong case for class action suit by the shareholders of the listed companies.